Richmond VA > Retirement > Other Benefits

Last Updated: 2014-05-27

In addition to pension benefits, the city of Richmond, Richmond Behavioral Health Authority (RBHA), and Richmond Public Schools(RPS) may offer additional post-employment benefits. With the exception of some death benefits administered by the the Richmond Retirement System (RRS), these programs are administered by each employer's department of human resources.

Examples of retiree benefits include:

Health Insurance

Group health insurance coverage is available for eligible City of Richmond retirees with a Defined Benefit Plan or Enhanced Defined Benefit Plan.

To qualify for coverage, retirees cannot be eligible for Medicare. Additionally, deferred retirees are not eligible for this benefit, and eligibility requirements limit who can join the group plan in retirement.

The insurer for 2016 is Cigna and the following memos Please review the changes in www stage here: • http://wwwstage/content/retirement/index.aspx • http://wwwstage/content/retirement/RetireesNews.aspx • http://wwwstage/Retirement/RetireesOtherBenefits.aspx Thanks! For Internal Use Files to be migrated to WWW: http://wwwstage/content/retirement/index.aspx http://wwwstage/content/retirement/documents/news20160506_CityofRichmondDepartmentOfHumanResourcesInformationOnHealthAssessmentInitiative.pdf http://wwwstage/content/retirement/documents/news20160506_ToParticipateInHR_HealthAssessmentInitiativeActNow.pdf http://wwwstage/content/retirement/includeFileForBenefitsInsurance.aspx http://wwwstage/content/retirement/RetireesNews.aspx from the Department of Human Resources provide more information about this benefit.

Dental Insurance

Group dental insurance is available for eligible city of Richmond retirees with a Defined Benefit Plan or Enhanced Defined Benefit Plan through Cigna.

Deferred retirees are not eligible for this benefit, and the following memos from the Department of Human Resources provide more information about this benefit.

Life Insurance

Full-time, permanent city of Richmond employees have life insurance through the Virginia Retirement System/Minnesota Life. Employees who meet age and service requirements for retirement, even if the employee chooses to defer retirement, will remain eligible for life insurance.

Summary of Benefits

When first retiring, benefits will be equal to two times the retiree's salary as an employee; on January 1, the first full year after terminating employment, the benefit will reduce by 25%. The benefit will continue to reduce each year until it reaches 25% of its original value.

For example, an eligible retiree who has been retired for four full years or more will have a life insurance benefit equal to approximately half their salary as an employee.

For former employees who met age and service requirements for retirement when terminating employment, the benefit will reduce as if the former employee had retired.

If employees terminate service and qualify for disability retirement benefits from the RRS, benefits will only reduce after age 65.

Name Your Beneficiary

Because this benefit is not administered by the RRS, retirees will need to contact the Virginia Retirement System/Minnesota Life to update beneficiary information

Forms to name one or more beneficiaries can be obtained from the Virginia Retirement System.

Death Benefits

The Death Benefit Fact Sheet provides a summary of the benefits available to a member's spouse or designated beneficiary under certain terms and conditions in accordance with Chapter 78 of the Code of the city of Richmond, Virginia.

Death Benefits After Retirement

Death benefits are governed by the type of benefit payment option selected at retirement.

If you were employed before June 13, 1988, your beneficiary will receive a one-time, lump-sum payment up to a maximum of $1,000.

Death Benefits After Disability Retirement

The surviving spouse is automatically entitled to a 100% survivor benefit if the retiree was eligible for Early Service retirement at the time of disability retirement and dies prior to reaching his/her normal retirement age (general employee at age 65; sworn police officer or firefighter at age 60).

The automatic coverage for the spouse ends at the retiree's normal retirement age. Therefore, to continue coverage for the spouse, the retiree must select a survivor option prior to reaching his/her normal retirement age.

If a disabled retiree was not eligible for an early service retirement at the time of disability retirement, the retiree may select a survivor option prior to reaching his/her normal retirement age.

If you were employed before June 13, 1988, your beneficiary will receive a one-time, lump-sum payment up to a maximum of $1,000.

Payment of Claims

Upon notification of a member's death (active or retired), their file is reviewed to determine if death benefits are due to a surviving spouse and/or beneficiary. If it is determined death benefits are due to a surviving spouse and/or beneficiary they will be contacted via mail and will be required to return a completed Death Benefit Claimant form and certified death certificate to the RRS for payment of funds.

Contact Information:

Richmond Retirement System
City of Richmond
730 E. Broad Street, Suite 900
Richmond, VA
23219 USA
Retirement
Phone: (804)646-5958
Fax: (804)646-5299

Toll-Free (Outside Central Virginia): (888)288-2781
Office Hours: By Appointment Only
Monday - Friday
8:00 a.m. - 5:00 p.m.
Walk-in Visits:
Monday - Friday
10:00 a.m. - 12:00 p.m.
and 1:00 p.m. - 3:00 p.m.

More Contact Information

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